CNN Money reported, “The U.S. economy is very healthy, especially compared with the slow recovery from the Great Recession. Unemployment hasn’t been this low in 17 years. Economic growth is the best in three years. Equally important, most major world economies are growing at the same time for the first time in several years.”

“Thanks to those economic gains, corporate profits have never been higher. Companies are sitting on record amounts of cash, a chunk of which is being returned to shareholders. That makes stocks more attractive,” the news outlet added.

“Unlike the bull market that ended in 2000, this one has earnings behind it,” said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, in reference to the so-called dot-com bubble that was built on illusory profits. “The fundamentals are good. The economy is strong.”

The Dow in August 1982 was 777 that was its low just before the tax cuts (passed under Reagan in 1981) took effect,” Laffer said. “By the end of Reagan’s term, I don’t know what it was three-and-a-half (times)…It was way, way up. So we have lots and lots of room.”

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The DJIA was 2,239 the day Reagan left office in Jan. 1989, or nearly a three times rise in value.

Laffer believes the market could go up to 30,000 under Trump.

“The Dow hasn’t doubled since Trump has been in office,” Laffer stated. “If it went up threefold, it would be more like happened with Reagan. It’s not even close to that growth.”

Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.

Birthplace

Harrisburg, Pennsylvania

Nationality

American

Honors/Awards

Graduated dean's list from West Point

Education

United States Military Academy at West Point, Regent University School of Law